# BDC Capital: portfolio, investments and team

> BDC Capital is a vc firm based in Canada. 685 investments on record, 67 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/bdc-venture-capital (Millionrounds; every figure on the page links to its filing or article)

Canada · [Investor](https://millionrounds.com/investors)

# BDC Capital

Last cheque observed Sep 2026; 685 cheques on record.

Email

Deploying now VC firm

Pre-seed Seed Series A Business-to-business B2b2c Enterprise

Follow BDC Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fbdc-venture-capital)

Deploying now

**83%** of best year **67** **cheques in 12 months**, 685 on record

Since the last cheque **37** days **00** hrs **00** min **00** sec

Median round **$6.0M** Cheque size, as they say **$500K – $7.5M** Rounds led **2 of 685** Sole investor **97 rounds** Exits **40 from the portfolio** Mostly in **Canada, 98%**

Pitch BDC Capital

## BDC Capital highlights

- 01 67 cheques in the last 12 months
- 02 Mostly Venture and Seed: 53% of its rounds
- 03 Sole investor in 97 rounds, median $1.7M
- 04 40 exits from the portfolio

## What they do

> We are BDC, the Business Development Bank of Canada and the financial institution devoted to Canadian entrepreneurs. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $500K – $7.5M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** Business-to-business B2b2c Enterprise
- **Based in:** Montreal, Canada
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **685 appearances**

- **2026** 57 rounds
- **Sept** **[Axya](https://millionrounds.com/company/axya)** Series A · CA · BetaKit **$12M** With 7 others
- **Sept** **[Ultimarii](https://millionrounds.com/company/ultimarii)** Series A · CA · BetaKit **$9.4M** *Led*
- **Sept** **[Vivid Machines](https://millionrounds.com/company/vivid-machines)** Grant · CA **$1.2M** With 3 others
- **Sept** **[Summit Nanotech](https://millionrounds.com/company/summit-nanotech)** CA **$3.0M** With 1 other
- **Sept** **[QRA](https://millionrounds.com/company/qra)** Grant · CA **$289K** With 4 others
- **Aug** **[Femtum](https://millionrounds.com/company/femtum)** Debt · CA **$1.4M** With 2 others
- **Jul** **[Eavor](https://millionrounds.com/company/eavor)** Grant · CA **$5.6M** With 3 others
- **Jun** **[Dominion Dynamics](https://millionrounds.com/company/dominion-dynamics)** Series A · CA · Ventureburn **$98M** With 17 others
- **Jun** **[Picketa Systems](https://millionrounds.com/company/picketa-systems)** Seed · CA · East Valley Ventures **$2.1M** With 9 others
- **Jun** **[SELL IT9](https://millionrounds.com/company/sell-it9)** Seed · CA **$2.9M** With 3 others
- **Jun** **[Spring Loaded Technology](https://millionrounds.com/company/springloaded-technology)** Venture · CA **Undisclosed** With 3 others
- **Jun** **[KOHO Financial](https://millionrounds.com/company/koho-financial)** Series E · CA **$93M** With 3 others
- **May** **[Nord Quantique](https://millionrounds.com/company/nord-quantique)** CA · TechStartups **$30M** With 8 others
- **May** **[Photonic Inc.](https://millionrounds.com/company/photonic-inc)** CA · Firms' own news pages **$200M** With 10 others
- **May** **[Bonsai Micro](https://millionrounds.com/company/bonsai-micro)** Grant · CA **$451K** Sole investor
- **May** **[Lastwall](https://millionrounds.com/company/lastwall)** Series A · US **$16M** With 4 others
- **May** **[Myomar Molecular](https://millionrounds.com/company/myomar-molecular)** Debt · CA **$1.4M** With 2 others
- **May** **[Ranovus](https://millionrounds.com/company/ranovus)** Grant · CA **$1.1M** With 2 others
- **May** **[Xanadu](https://millionrounds.com/company/xanadu)** CA **$300M** With 4 others
- **May** **[Anaergia](https://millionrounds.com/company/anaergia)** Debt · CA **$15M** With 2 others
- **May** **[Noze](https://millionrounds.com/company/noze)** Venture · CA **Undisclosed** With 2 others
- **May** **[Blumind](https://millionrounds.com/company/blumind)** Grant · CA **$1.1M** With 3 others
- **Apr** **[A&K Robotics](https://millionrounds.com/company/a-and-k-robotics)** Series A · CA · TechStartups **$5.9M** With 8 others
- **Apr** **[Carbon Upcycling Technologies](https://millionrounds.com/company/carbon-upcycling-technologies)** Debt · CA · Ventureburn **$10M** With 3 others
- **Apr** **[MarineLabs Data Systems Inc.](https://millionrounds.com/company/marinelabs-data-systems-inc)** Grant · CA **$223K** With 2 others
- **Apr** **[Opalia](https://millionrounds.com/company/opalia)** Seed · CA **$2.3M** With 3 others
- **Apr** **[Sanctuary Cognitive Systems Corporation](https://millionrounds.com/company/sanctuary-cognitive-systems-corporation)** Venture · CA **$1.5M** With 3 others
- **Apr** **[PlasCred Circular Innovations](https://millionrounds.com/company/plascred-circular-innovations)** CA **$4.9M** With 1 other
- **Apr** **[Zetane Systems](https://millionrounds.com/company/zetane-systems)** Seed · CA **$1.8M** With 1 other
- **Apr** **[Quadshift](https://millionrounds.com/company/quadshift)** Venture · CA **Undisclosed** Sole investor
- **Mar** **[Congruence Therapeutics](https://millionrounds.com/company/congruence-therapeutics)** CA · Lumira Ventures **$40M** With 9 others
- **Mar** **[Canada Rocket Company](https://millionrounds.com/company/canada-rocket-company)** Grant · CA **$6.1M** With 3 others
- **Mar** **[Myomar Molecular](https://millionrounds.com/company/myomar-molecular)** Grant · CA **$37K** With 1 other
- **Mar** **[Femtum](https://millionrounds.com/company/femtum)** Series A · CA **$12M** With 1 other
- **Mar** **[Northstar Clean Technologies](https://millionrounds.com/company/northstar-clean-technologies)** Debt · CA **$9.0M** With 1 other
- **Mar** **[Charli AI](https://millionrounds.com/company/charli-ai)** Debt · CA **$356K** With 1 other
- **Feb** **[JetScaleAI](https://millionrounds.com/company/jetscaleai)** Seed · CA · Diagram **$5.4M** With 4 others
- **Feb** **[Hydrostor](https://millionrounds.com/company/hydrostor)** Venture · CA **Undisclosed** With 2 others
- **Feb** **[MIMOSA Diagnostics](https://millionrounds.com/company/mimosa-diagnostics)** Venture · CA **$100K** With 3 others
- **Feb** **[Haply](https://millionrounds.com/company/haply)** Seed · CA **$12M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **78** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

Funds they back

## 9 fund commitments on record

- **Managers:** 8

Every fund on record that it has committed money to, and the managers who invest it. Source: fund news.

Managers it backs most

- [Inovia Capital 2 funds](https://millionrounds.com/fund/inovia-capital)
- [Diagram 1 fund](https://millionrounds.com/fund/diagram)
- [Information Venture Partners 1 fund](https://millionrounds.com/fund/information-venture-partners)
- [Intrepid Growth Partners 1 fund](https://millionrounds.com/fund/intrepid-growth-partners)
- [TandemLaunch 1 fund](https://millionrounds.com/fund/tandemlaunch)
- [Teralys Capital 1 fund](https://millionrounds.com/fund/teralys-capital)
- [Vancouver Founder Fund 1 fund](https://millionrounds.com/fund/vancouver-founder-fund)
- [Vertu Capital 1 fund](https://millionrounds.com/fund/vertu-capital)

Most recent commitments

- [Diagram Diagram Climate Tech Fund](https://millionrounds.com/fund/diagram)
- [Information Venture Partners Fund II](https://millionrounds.com/fund/information-venture-partners)
- [Inovia Capital Fund VI](https://millionrounds.com/fund/inovia-capital)
- [Inovia Capital Inovia Capital Fund VI](https://millionrounds.com/fund/inovia-capital)
- [Intrepid Growth Partners inaugural fund](https://millionrounds.com/fund/intrepid-growth-partners)
- [TandemLaunch TandemLaunch Ventures II](https://millionrounds.com/fund/tandemlaunch)
- [Teralys Capital Teralys Capital Innovation Fund](https://millionrounds.com/fund/teralys-capital)
- [Vancouver Founder Fund Vancouver Founders Fund](https://millionrounds.com/fund/vancouver-founder-fund)
- [Vertu Capital Vertu Partners Fund I](https://millionrounds.com/fund/vertu-capital)

## Exits from the portfolio

Companies it backed that were later bought or listed **40 in all**

**[Teradici](https://millionrounds.com/company/teradici)** Bought by Hp **Undisclosed** Oct 2021

**[Wantering](https://millionrounds.com/company/wantering)** Bought by Clique **Undisclosed** Nov 2015

**[GridPoint](https://millionrounds.com/company/gridpoint)** Bought by Twenty First Century Utilities **Undisclosed** Nov 2015

**[Hurrier](https://millionrounds.com/company/hurrier)** Bought by [Foodora](https://millionrounds.com/fund/foodora) **Undisclosed** Sept 2015

**[Triacta Power Technologies](https://millionrounds.com/company/triacta-power-technologies)** Bought by EnerCare **$7.5M** Jun 2015

**[Bluestreak Technology](https://millionrounds.com/company/bluestreak-technology)** Bought by Espial Group **Undisclosed** Jun 2015

**[Mobidia Technology](https://millionrounds.com/company/mobidia-technology)** Bought by App Annie **Undisclosed** May 2015

**[Learndot](https://millionrounds.com/company/learndot)** Bought by ServiceRocket **Undisclosed** Jan 2015

**[Retsly](https://millionrounds.com/company/retsly)** Bought by Zillow **Undisclosed** Jul 2014

**[SeaWell Networks](https://millionrounds.com/company/seawell-networks)** Bought by [Arris Group](https://millionrounds.com/fund/arris-group) **Undisclosed** Apr 2014

**[Listn](https://millionrounds.com/company/listn)** Bought by [SFX Entertainment](https://millionrounds.com/fund/sfx-entertainment) **Undisclosed** Jan 2014

**[iWeb Technologies](https://millionrounds.com/company/iweb-technologies)** Bought by Internap **$145M** Oct 2013

**[Openera](https://millionrounds.com/company/openera)** Bought by LiveQoS **Undisclosed** Oct 2013

**[Layer 7 Technologies](https://millionrounds.com/company/layer-7-technologies)** Bought by [CA Technologies](https://millionrounds.com/fund/ca-technologies) **$155M** May 2013

**[Neuralitic Systems](https://millionrounds.com/company/neuralitic-systems)** Bought by Guavus **Undisclosed** Jan 2013

**[Cytochroma](https://millionrounds.com/company/cytochroma)** Bought by [OPKO Health](https://millionrounds.com/fund/opko-health) **Undisclosed** Jan 2013

**[Covarity](https://millionrounds.com/company/covarity)** Bought by Constellation Software **Undisclosed** Apr 2012

**[BelAir Networks](https://millionrounds.com/company/belair-networks)** Bought by [Ericsson](https://millionrounds.com/fund/ericsson-ventures) **Undisclosed** Apr 2012

**[Q1 Labs](https://millionrounds.com/company/q1-labs)** Bought by [IBM (International Business Machines)](https://millionrounds.com/fund/ibm-international-business-machines) **Undisclosed** Oct 2011

**[SiGe Semiconductor](https://millionrounds.com/company/sige-semiconductor)** Bought by Skyworks Solutions **$275M** May 2011

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Pre-seed Seed Series A

Median round joined **$6.0M** the round, not its cheque Alone, median **$1.7M**

Led 2 of 685 rounds **0%**

- **Said size:** $500K – $7.5M
- **Sole investor:** 97 rounds
- **Last cheque:** Sept 2026
- **Exits:** 40 from the portfolio

Rounds by stage said on their site

- Venture *174*
- Seed said *117*
- Series A said *112*
- Series B said *99*
- Series C *42*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [GrowthWorks](https://millionrounds.com/fund/growthworks) 50
- [Export Development Canada](https://millionrounds.com/fund/export-development-canada) 39
- [Real Ventures](https://millionrounds.com/fund/real-ventures-2) 36
- [Creative Destruction Lab](https://millionrounds.com/fund/creative-destruction-lab) 32
- [Desjardins Venture Capital](https://millionrounds.com/fund/desjardins-venture-capital) 26
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 24

**Pitching BDC Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as BDC Capital. A count of rooms they were both in, not a relationship either has claimed.

[**GrowthWorks** VC firm **50** rounds together](https://millionrounds.com/fund/growthworks)[**Export Development Canada** Government **39** rounds together](https://millionrounds.com/fund/export-development-canada)[**Real Ventures** Family office **36** rounds together](https://millionrounds.com/fund/real-ventures-2)[**Creative Destruction Lab** Accelerator **32** rounds together](https://millionrounds.com/fund/creative-destruction-lab)[**Desjardins Venture Capital** Government **26** rounds together](https://millionrounds.com/fund/desjardins-venture-capital)[**Y Combinator** Accelerator **24** rounds together](https://millionrounds.com/fund/y-combinator)[**Inovia Capital** VC firm **22** rounds together](https://millionrounds.com/fund/inovia-capital)[**Investissement Quebec** Investment firm **21** rounds together](https://millionrounds.com/fund/investissement-quebec-2)[**VenGrowth** Investment firm **18** rounds together](https://millionrounds.com/fund/vengrowth)[**Fonds de solidarite Ftq** VC firm **15** rounds together](https://millionrounds.com/fund/fonds-de-solidarite-ftq)[**New Brunswick Innovation Foundation** VC firm **15** rounds together](https://millionrounds.com/fund/nbif)[**Yaletown Partners** VC firm **15** rounds together](https://millionrounds.com/fund/yaletown-partners)

## Recently backed

The latest companies BDC Capital put money into.

[**Vivid Machines** $1.2M · Sept 2026](https://millionrounds.com/company/vivid-machines)[**Summit Nanotech** $3.0M · Sept 2026](https://millionrounds.com/company/summit-nanotech)[**QRA** $289K · Sept 2026](https://millionrounds.com/company/qra)[**Femtum** $1.4M · Aug 2026](https://millionrounds.com/company/femtum)[**Picketa Systems** $2.1M · Jun 2026](https://millionrounds.com/company/picketa-systems)[**Nord Quantique** $30M · May 2026](https://millionrounds.com/company/nord-quantique)

## Quick answers about BDC Capital

### What does BDC Capital invest in?

BDC Capital invests most often at Venture and Seed (53% of the rounds on record), in sectors such as Business-to-business, B2b2c and Enterprise.

### How active is BDC Capital?

685 investments on record, 67 of them in the last 12 months, and it led 2. The most recent was in Sept 2026.

### What has BDC Capital invested in recently?

Its most recent investments on record: Axya (Series A, Sept 2026), Ultimarii (Series A, Sept 2026) and Vivid Machines (Grant, Sept 2026).

### How big are BDC Capital's cheques?

The median round it joins is $6.0M. It says it writes cheques of $500K to $7.5M.

### Does BDC Capital lead rounds?

Sometimes: it led 2 of its 685 investments on record (0%).

### Where does BDC Capital invest?

Most of the companies it backs are in Canada (98%).

### Is BDC Capital investing now?

Yes: it is actively investing, with 67 investments in the last 12 months.

### Who does BDC Capital invest alongside?

Most often GrowthWorks (50 rounds together), Export Development Canada (39 rounds together) and Real Ventures (36 rounds together).

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